Beige Book Not Nearly Red Enough For Imminent QE

The Fed's Beige Book was just released and for those looking for cliff-dropping and panic-driven views of the plunge in the economy, we are sorry. The Beige Book was, well, beige. Some headlines, via Bloomberg:

*FED SAW WEAKER U.S. MANUFACTURING, RETAIL SPENDING LAST MONTH

*FED SAYS LOAN DEMAND `GREW MODESTLY' IN MOST DISTRICTS

*FED SAYS MANUFACTURING EXPANDED `SLOWLY' IN MOST DISTRICTS

*FED: HOUSING MARKET REPORTS `LARGELY POSITIVE'

*FED SAYS DISTRICTS' BUSINESS CONTACTS `CAUTIOUSLY OPTIMISTIC'

The word-cloud highlights the 'continued activity' though does note 'demand pressures', 'slowed markets' and 'sales conditions'. Maybe we will just muddle through with our lower earnings and weaker outlooks but never quite bad enough to get Ben off the bench.

Don't tell me you think markets are absolutely beyond broken and merely a psychological matrix literally hinging on utterings of fractional reserve bank monkeyhammering of what used to be 'normal mechanisms and flow', and that you, like so many genuinely intelligent people (not having high ranking best friends forever inside the Federal Reserve-less non-Bank of New York or Treaury) are sitting out until anything approximating actual, true markets- driven by organic supply/demand and real FMV- returns?

I have said it a dozen times here. NO QE until the markets dump. And they better do it soon because if it is much past August just watch the politicians burn Bernank at the stake. The DOW is near 13,000, spoos not far from 1,400, how the fuck can you print more without starting a revolution. The sheeples look at the averages, not stocks. Not gonna happen. And we just keep rowing, further out to sea, keep rowing, looking for that island that was promised us. Just....keep.....rowing.

QE3 is all talk. That is it. It will get launched if we are in a panic or if SP is getting near 1000.

The FED can jawbone all it want, but it is scared that if it launches QE3 and we sell off, then officailly game over. The maket would have lost all confidence that "FED will save us all", and we coulod literlly crash to 600 on SP

They will talk and talk and talk QE3, but it will not get launched til panic hits so it might have some positve effect.

The fact that the market has played along the Fed fiddle and not tested them is really surprising, but test the FED it will, I have no doubt about it.